Guggenheim Capital LLC Buys 16,785 Shares of Phillips 66 $PSX

Key Points

• Guggenheim Capital LLC increased its stock position in Phillips 66 by 25.3%, acquiring an additional 16,785 shares during the first quarter, bringing its total to 83,108 shares valued at approximately $10.26 million.
• Several institutional investors have adjusted their positions in Phillips 66, with hedge funds and other institutions owning 76.93% of the company's stock.
• Phillips 66 reported strong quarterly earnings, with $2.38 earnings per share, exceeding analysts' expectations and leading to a consensus rating of "Moderate Buy" and a price target of $136.20.

Guggenheim Capital LLC lifted its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 25.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 83,108 shares of the oil and gas company's stock after acquiring an additional 16,785 shares during the period. Guggenheim Capital LLC's holdings in Phillips 66 were worth $10,262,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PSX. Nuveen LLC bought a new position in shares of Phillips 66 during the first quarter worth about $156,482,000. Capitolis Liquid Global Markets LLC bought a new position in shares of Phillips 66 during the fourth quarter worth about $142,185,000. GAMMA Investing LLC grew its position in shares of Phillips 66 by 14,119.5% during the first quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock worth $146,893,000 after acquiring an additional 1,181,240 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Phillips 66 by 157.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company's stock worth $175,593,000 after acquiring an additional 942,922 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Phillips 66 by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company's stock worth $828,442,000 after acquiring an additional 682,459 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Analyst Ratings Changes

PSX has been the subject of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating for the company. UBS Group upped their price objective on shares of Phillips 66 from $141.00 to $143.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Morgan Stanley upped their price objective on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a report on Wednesday, June 18th. Finally, Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 has an average rating of "Moderate Buy" and an average price target of $136.20.

Insider Activity

In other news, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the transaction, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, the executive vice president owned 43,373 shares in the company, valued at $5,638,490. This represents a 9.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is owned by company insiders.

Phillips 66 Price Performance

NYSE PSX traded up $0.86 on Friday, reaching $133.69. The company's stock had a trading volume of 1,530,714 shares, compared to its average volume of 1,979,315. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a market cap of $54.03 billion, a PE ratio of 32.14, a PEG ratio of 1.81 and a beta of 1.15. The firm's 50 day moving average is $125.03 and its two-hundred day moving average is $119.25.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the prior year, the company earned $2.31 EPS. As a group, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, August 19th. Phillips 66's payout ratio is presently 115.38%.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.